Nigmatullin I.G.National Assembly of Kurultai of Bashkortostan Republic, Russian Presidential Academy of National Economy and Public Administration, Ufa, Republic of Bashkortostan, Russian Federation nigmatullin.ireck@yandex.ru
Importance Lately, because of the sanctions against the Russian Federation, the problem of import substitution assumed its relevance. It requires examining and defining the ways to improve the regional financial policy for the short-term perspective. The Russian science encompasses different views and approaches on organizing import substitution policy in various sectors of economy. The article describes a number of publications of Russian scientists, reflecting the policy of import substitution. Objectives The article aims to study the issues of import substitution, to identify problems and develop proposals to improve the Republic of Bashkortostan financial policy as one of constituent territories of the Russian Federation. As part of the research, the article defines and assigns the following tasks: to identify the structure of import of products and services in the Republic of Bashkortostan; to identify areas of the State financial policy and the relationship with the business cycle (development) of the sectors of economy at the present stage, to develop proposals for improving the regional financial policy of the Republic of Bashkortostan. Methods In this paper, using the methods of statistical surveys, structuring and organizing, quantitative and qualitative analyses of the import policy and real output, I explore the financial policy of the Republic of Bashkortostan for the period of 2009-2014. Results Based on the goal, in accordance with the intended purpose, I have obtained the following results: identified the ways of import substitution and the possibilities of the real sector of economy of the Republic of Bashkortostan; analyzed the fiscal policy and highlighted the ways to improve it in terms of import substitution; made recommendations to improve the State financial policy of the Republic of Bashkortostan. Conclusions and Relevance I conclude that in conditions of the financial instability and the policy of sanctions it is necessary to improve and adjust the strategic priorities of the State financial policy aimed at developing effective measures and productivity of its implementation in the long run.
Keywords: State, regional, fiscal policy, import substitution, Republic of Bashkortostan
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